A substantial 11,704sq m landholding in one of Christchurch’s most sought-after residential corridors offers developers an opportunity to deliver medium-density housing in an amenity-rich location.
The site combining 99 Packe Street and 512U Madras Street in St Albans is positioned directly adjacent on the north side of the new $50-million St Albans Woolworths supermarket and associated retail development and is being marketed for sale by Courtney Doig, Director of Investment Sales at Colliers Christchurch.
“Comparable sites of this scale that we’ve sold in the past six months have attracted keen interest from both local and national buyers with multiple offers received,” Doig says.
St Albans offers cafes and everyday services close to the CBD, with Merivale’s premium shopping and hospitality precinct just minutes away.
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The large-scale landholding will appeal to a different segment of the housing market than high-density central city apartments, Doig says.
“This is only 3km from the CBD but offers the ability to develop owner-occupier product with car parking and more space, which is what suburban buyers want.
“The site lends itself to stand-alones and terraces – mid to high-end executive homes rather than purely investment-focused apartments.”
Mike Greer Homes developed the Madras Street and Canon Street perimeter of the property, so the land is surrounded by quality homes.
The Medium Density Residential zoning offers exceptional flexibility for townhouse and terrace-home development, supporting buildings up to 12m (generally three storeys).
The land is close to key amenities including Christchurch Hospital (4.8km), St George’s Hospital (3.4km) and Merivale Mall (2.4km), while the adjoining Woolworths development, which recently received resource consent, will significantly boost the everyday convenience offering.
Ongoing migration of couples and families from the North Island, driven by Christchurch’s strong economy and liveability, continues to underpin residential demand.
Doig sees positive signs across the residential development sector heading into 2026.
“Many of our developer clients are achieving good pre-sales on their development stock.”
There’s also increased activity from developers new to the region.
“As Christchurch builds its reputation as a world-class place to live and work, we’re experiencing good inquiry from external developers who are new entrants into our market, which is encouraging.”
This property is for sale via deadline private treaty, closing 4pm, 12 March, unless sold prior.
- Supplied by Colliers
